Chile: Business confidence falls to over-seven year low in June
July 5, 2016
The mood among Chilean businesses in June fell to the lowest level in over seven years. The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez dropped from May’s 41.7 points to 39.2 points in June. Moreover, the index remains below the 50-point threshold that separates pessimism from optimism, where it has been since April 2014.
June’s setback mainly reflected growing pessimism in the mining and construction sectors. Pessimism was particularly evident in the construction sector, where the mood fell to the lowest point on record. Conversely, confidence in the trade and industry sectors inched up in June.